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Saturday, May 21, 2022

Brokers jet off to LA after another good year

Norway’s still-booming real estate market has been lucrative for local real estate brokers, who’ve been pocketing hefty commission income on sales at record-high prices. Now one firm is rewarding its top performers with a luxurious trip to Los Angeles.

The firm, Privatmegleren, which deals mostly in high-end properties, logged enough profits during the past year to justify flying 51 of their brokers to LA for a a week’s stay at the Sunset Marquis hotel in West Hollywood. The flights, hotel accommodation for six days, champagne and fees for an obligatory real estate conference they’ll also attend while there is estimated to cost NOK 1.5 million, reports newspaper Dagens Næringsliv (DN).

“This will be a great experience,” Privatmegleren Robert Fauske told DN. He claimed “all the hotels in LA will be filled with real estate brokers,” who’ll be attending the conference that also will presumably enable the firm to write off expenses for the lavish trip. Part of the expenses are also being sponsored by insurance company Help Forsikring.

Brokers invited on the tour all exceeded their own budgets for the past six months, and they had to have sold at least 25 percent of the insurance they arranged for buyers through Help, which views the brokers as their agents.

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